Anonymous letter claims Russian military ordered strike on AZAL plane near Grozny
An anonymous letter sent to Minval.az alleges that the Russian military ordered the strike on an AZAL flight downed near Grozny in December 2024, offe...
The euro marks its 26th year amid economic challenges, with fluctuating value and new digital currency developments shaping its future across Europe and the global market.
The euro, now in its 26th year, faces challenging economic conditions in the eurozone.
Introduced in 1999 as a dematerialized currency for accounting and electronic payments, it became physical currency in 2002, used daily by 350 million people in 20 EU member states. The European Central Bank (ECB) oversees the monetary policy, aiming to control inflation below 2% by adjusting interest rates.
The euro, the world's second most significant currency after the US dollar, circulates in seven banknote denominations and various coins. The €500 note was discontinued in 2019 due to concerns over money laundering and terrorism.
While all EU countries, except Denmark, are required to adopt the euro if eligible, Croatia joined the eurozone in 2023, and Bulgaria is expected to follow.
The euro's value has fluctuated since its launch. After a drop to $0.83 in 2000, it reached $1.60 in 2008, but geopolitical tensions and global crises led to a 16% depreciation against the dollar in 2022.
Despite recovery in 2023, the euro faced pressure from various factors, including Donald Trump’s election win, and ended 2024 at $1.04, near the $1 parity last seen in the early 2000s.
Globally, the euro’s role has diminished, accounting for 19.76% of global reserves in 2024, down from 25% in 2003. Its share in global payments also declined to 22.9% by October 2024.
In response to changing financial landscapes, the ECB is developing a digital euro, expected to complement traditional currency and be available for public use. With a regulatory framework being established, a draft rulebook is anticipated in early 2025, offering a reliable and stable digital payment option across Europe.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
The Asian Infrastructure Investment Bank (AIIB) and the Arab Fund have signed a memorandum of understanding to formalize a strategic partnership focused on advancing sustainable infrastructure in shared priority regions.
Tesla’s new car registrations plunged sharply in June, dropping 64.4% in Sweden and 61.6% in Denmark compared to last year, highlighting growing challenges for the U.S. electric vehicle maker in these Nordic markets.
More than $2.5 billion in new deals and commitments between the United States and African partners were announced at the 17th summit, underscoring the U.S. commitment to prioritizing trade over aid by engaging Africans as equal partners in investment-driven growth, the State Department announced.
Gold prices edged higher on Monday after slipping to their lowest level in more than a month, supported by a weakening U.S. dollar and easing geopolitical tensions that have tempered safe-haven demand.
The French Riviera town of Cannes will restrict large cruise ships from docking starting from January 2026, as part of new efforts to manage over tourism and protect local infrastructure.
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